Title
Approval of 2025 Restated LDFA Plans and Tax Capture Agreement with Oakland County
Body
WHEREAS, the City of Rochester Hills (the “City”) previously established the City of Rochester Hills Local Development Finance Authority, Oakland County, Michigan (the “LDFA”) pursuant to Act 281, Public Acts of Michigan, 1986, as amended and recodified by Act No. 57, Public Acts of Michigan, 2018, as amended (collectively, the “Act”), for the purpose of facilitating projects that foster new economic growth and development and lead to the creation of new employment opportunities within the City; and
WHEREAS, pursuant to the Act, the LDFA and the City Council of the City (the “Council”) adopted the LDFA’s Development Plan and Tax Increment Financing Plan, and, subsequently, the LDFA’s Restated Development Plan and Tax Increment Financing Plan (collectively and as amended, the “Plan”), which Plan would expire by its terms on December 31, 2025; and
WHEREAS, on August 14, 2025, the LDFA approved and presented to the City a proposed 2025 Restated Development Plan and Tax Increment Financing Plan (the “2025 Restated Plan”) extending the LDFA and the Plan and providing for the improvements described in the Plan as well as new, additional improvements within the Authority District defined and described in the Plan; and
WHEREAS, the City set and provided notice of, and on September 8, 2025, held a public hearing on the 2025 Restated Plan, in accordance with the provisions of Act, at which public hearing all aspects of the 2025 Restated Plan were open for discussion and the fullest opportunity was given for the expression of opinion, argument on the merits and the introduction of documentary evidence pertinent to the 2025 Restated Plan; and
WHEREAS, authorized representatives of the City and the LDFA presented the 2025 Restated Plan to the County of Oakland’s Tax Increment Financing Review Policy Ad Hoc Committee on September 16, 2025 (the “County Committee Meeting”); and
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